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The great interest rate rip off part 10

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interestrateripoff

interestrateripoff

Posted
Posted

ECB needs help from other policy areas as 'lower bound' looms

 

FRANKFURT The European Central Bank's monetary stimulus needs to be complemented by action in other policy areas as the ECB is already operating near a "lower bound" where interest rates cannot be cut any farther, bank president Mario Draghi said on Wednesday.

9:29am BST

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China's economy less healthy in third quarter than data suggest - private survey

 

BEIJING China's economy was less healthy in the third quarter than a recent spate of upbeat data suggest, with growth coming exclusively from manufacturing and property while the services and retail sectors faltered, a private survey showed.

9:27am BST

Wind turbines firm Senvion says big merger deal not in prospect

 

HAMBURG German wind turbines maker Senvion is not expecting to be part of any large-scale consolidation within the industry, preferring to focus on internal growth and possibly some further small acquisitions, its chief executive said on Wednesday.

9:25am BST

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Greek PM Tsipras says expects 'positive news' on debt by year end

 

ATHENS Greek Prime Minister Alexis Tsipras said on Wednesday he expected a positive outcome to discussions on debt relief for the country this year.

9:19am BST

German nuclear commission warns of delay to waste storage deal

 

BERLIN Germany should speed up implementation of recommendations requiring operators of nuclear plants to pay billions of euros into a fund to cover the costs of waste storage, a commission urged the chancellery in a letter seen by Reuters on Wednesday.

8:39am BST

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Dotcom's appeal against extradition to U.S. winds up in New Zealand, ruling likely weeks away

 

WELLINGTON Lawyers for German entrepreneur Kim Dotcom, wanted in the United States on copyright infringement and money-laundering charges over his file-sharing website Megaupload, argued on Wednesday there was not enough evidence to show he conspired to commit a crime.

8:22am BST

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Zuckerberg initiative poaches AstraZeneca board member

 

LONDON The $3 billion (2.3 billion pounds) health initiative set up by Facebook co-founder Mark Zuckerberg and his wife Priscilla Chan has hired one of AstraZeneca's non-executive directors to head up its science drive.

8:18am BST

Rolls-Royce appoints new strategy and digital executives

 

LONDON British engineer Rolls-Royce appointed veteran M&A banker Ben Story to oversee its strategy and marketing, and Neil Crockett to develop its digital affairs, completing its new-look senior line up on Wednesday.

8:15am BST

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Job security fears hamper rebound in UK consumer confidence

 

LONDON British consumer morale recovered slightly in September, but fears over job security when Brexit talks begin next year could yet dampen confidence, a survey published on Wednesday found.

8:08am BST

UK's Ofgem tells bidders for National Grid gas networks earnings not guaranteed - SSE

 

UK energy regulator Ofgem told potential buyers of a majority stake in National Grid's four gas networks and part of utility SSE's SGN network on Wednesday that price controls for the period after 2021 have not yet been set, SSE said.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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interestrateripoff

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Posted
Posted

Exclusive - Uber to move freight, target trucking for the long haul

 

SAN FRANCISCO With its recent acquisition of self-driving truck startup Otto, Uber Technologies Inc. is plotting its entry into the long-haul trucking business, aiming to establish itself as a freight hauler and a technology partner for the industry.

7:45am BST

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South Korea to widen Takata air bag recall by 110,000 vehicles

 

SEOUL South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's defective air bags, the latest development in a long-running safety crisis involving the Japanese company.

7:43am BST

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After promising start, Rolls-Royce boss East must deliver

 

LONDON Rolls-Royce boss Warren East has rebuilt confidence in the British engine-maker, but there are doubts among investors and industry experts about whether his slimmed-down group has the muscle to meet ambitious production and development goals.

7:11am BST

China's Dongbei Special Steel makes revival plan after defaults - newspaper

 

SHANGHAI Dongbei Special Steel Group, the struggling Chinese steelmaker, has ironed out a business revival plan, aiming to return to profit and slash leverage ratio in three years' time, the Economic Observer reported on Wednesday, citing unidentified sources.

7:09am BST

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Japan steel industry sees China merger promoting structural reform

 

TOKYO China's Baosteel Group's acquisition of Wuhan Steel will create stronger leadership in the country's steel industry and promote structural reform, the chairman of the Japan Iron and Steel Federation said on Wednesday.

6:34am BST

Cevian courting would-be buyers of ABB Power Grids - DI newspaper

 

STOCKHOLM Activist shareholder Cevian wants to break up Swiss engineering group ABB’s Power Grids business and sell it in parts to strategic buyers, Swedish newspaper Dagens Industri reported, citing unnamed sources.

6:26am BST

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Exclusive: Permira nearing deal to buy Bank of East Asia's Tricor unit - sources

 

HONG KONG Private equity firm Permira has emerged as the preferred bidder to buy Bank of East Asia Ltd's share registry unit Tricor Holdings for between $750 million (576.97 million pounds) and $800 million, sources said on Tuesday, after six months of bidding that attracted the interest of top Chinese insurers among others.

5:11am BST

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China economy seen growing 6.6 percent in fourth quarter - government think tank

 

SHANGHAI China's economy is expected to grow at an annual 6.6 percent in the fourth quarter and post overall growth of 6.7 percent for the full year, the China Academy of Social Sciences (CASS) said.

4:16am BST

Exclusive - Spain's Puig to buy 35 percent stake in Brazil's Granado, sources say

 

SAO PAULO Spanish fashion and fragrance firm Puig SA agreed on Tuesday to pay around 500 million reais (119 million pounds) for a 35 percent stake in Grupo Granado SA, a Brazilian manufacturer and retailer of high-end beauty care goods seeking to expand globally, three people with direct knowledge of the deal said.

4:03am BST

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Wells Fargo CEO forfeits millions as board orders review

 

Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

Exclusive - Spain's Puig to buy 35 percent stake in Brazil's Granado, sources say

 

SAO PAULO Spanish fashion and fragrance firm Puig SA agreed on Tuesday to pay around 500 million reais (119 million pounds) for a 35 percent stake in Grupo Granado SA, a Brazilian manufacturer and retailer of high-end beauty care goods seeking to expand globally, three people with direct knowledge of the deal said.

4:03am BST

?m=02&d=20160928&t=2&i=1155236316&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8R03Z

Wells Fargo CEO forfeits millions as board orders review

 

Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices.

3:54am BST

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Goldman Sachs invests $70 million in Red Planet Hotels

 

HONG KONG Goldman Sachs is investing $70 million (53.8 million pounds) in Red Planet Hotels, a pan-Asian budget hotel chain, which will help the company fund its planned expansion to 10 hotels in the next 24 months.

3:43am BST

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ECB's Lane says up to supervisors to mitigate risks of low rates

 

NEW YORK Ultra-low European Central Bank interest rates could lead to excessive risk-taking but it is up to supervisors to mitigate these risks as ECB policy is clearly doing the job intended, Governing Council member Philip Lane said on Tuesday.

3:15am BST

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Uber aims to win Japan's heart through its stomach

 

TOKYO Uber Technologies on Wednesday said it will launch a food-delivery service in Japan as it looks for new ways to enter a potentially massive market where its ride-hailing service has been blocked by regulation and opposition from taxi drivers.

3:04am BST

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Japan PM Abe says to work with BOJ to defeat deflation

 

TOKYO Japanese Prime Minister Shinzo Abe said on Wednesday that the government would continue to work closely with the Bank of Japan, using all policy tools, to defeat deflation and boost growth.

3:02am BST

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Fed's Williams says U.S. economy can handle rate hike

 

SAN FRANCISCO The Federal Reserve can raise interest rates without threatening the U.S. economic recovery, a top Federal Reserve policymaker said on Tuesday, saying the central bank risks doing more harm by continued inaction.

3:00am BST

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BoE's Carney sees positive long-term prospects for UK economy - Herald Scotland

 

Long-term prospects are positive for the UK economy and it is performing as the Bank of England had expected when it introduced stimulus measures in August to cushion the economic shock from the June Brexit vote, Governor Mark Carney said in an interview with Herald Scotland.

2:30am BST

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On the Majestic Maersk, mega-ship dreams obscure cloudy future for shipping

 

SHANGHAI For Captain Dick S. Danielsen, the childhood dream has been to sail the world's biggest ships.

2:14am BST

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Commerzbank to cut 9,000 jobs, dividend in revamp - source

 

FRANKFURT Commerzbank aims to cut around 9,000 jobs in the next few years and will scrap its 2016 dividend as part of efforts to reduce costs in the face of negative interest rates, a source close to the bank's supervisory board said on Tuesday.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

How on earth will Labour raise £500bn to make Britain more socialist?

 

The Biq Questions: Where would the money come from? Would it be printed? Do we need it? What would be the consequences?

 

 

 

 

 

New scandal threatens Ian Taylor's Vitol

 

 

 

 

 

Asos staff are fired for having panic attacks, report claims

 

 

 

 

 

 

 

 

Mortgage approvals fall to lowest in 21 months

 

Mortgage approvals slipped to 60,058 in August, the lowest since November 2014, which analysts said pointed to a softening of the housing market

 

 

 

 

 

Global stock markets rally as OPEC agrees to slash oil production

 

 

 

 

 

Andrew Tyrie blasts banks and regulators over IT failings

 

 

 

 

 

 

Sainsbury's launches dairy-free cheese range suitable for vegans

 

Sainsbury’s dairy-free cheeses are available in stores across the UK from 28 September.

 

 

 

 

 

 

CMA probes price sites but don't let that stop you switching

 

They've generally been a good thing but there are issues with the way they operate. The CMA's review could also help it to put right a mistaken ruling

 

 

 

 

 

 

 

 

Capita has tripped up. What's the problem? Who can tell?

 

The outsourcer's trading statement is full of corporate gobbledygook. Perhaps it should outsource future missives to somone who can write in plain English

 

 

 

 

 

 

Samsung washing machines are now exploding too

 

Samsung said, the affected machines 'may experience abnormal vibrations' that could cause injuries or property damage

 

 

 

 

 

 

 

 

The best companies to have a job interview with revealed

 

Candidates rated their overall interview experience and its difficulty

 

 

 

 

 

 

The Truth about Vitol’s tax affairs

 

The Tory donor whose firm is one of Britain’s biggest tax avoiders — with HMRC’s blessing

 

 

 

 

 

Spotify in talks to buy SoundCloud

 

 

 

 

 

Business news in brief on Wednesday September 28

 

 

 

 

 

 

Apple to move London HQ to Battersea Power Station

 

Apple will account for 40% of the development’s total office space

 

 

 

 

 

 

 

 

Tariffs on UK car exports to EU would be 'disastrous' for jobs

 

EXCLUSIVE: Hanno Kirner, executive director at JLR, issued the stark warning ahead of the Paris Motor Show

 

 

 

 

 

 

Sainsbury’s better for shoppers than shareholders

 

The grocer has proved the doubters wrong in the past, but if faces some daunting challenges

 

 

 

 

 

 

 

Yanis Varoufakis just put forward a perfect Brexit analogy

 

Varoufakis compared the UK relations with the EU bloc with a well-known song by the Eagles

 

 

 

 

 

Yanis Varoufakis on what the Tories must do after UK voted for Brexit

 

 

 

 

 

Wells Fargo's boss has forfeited $41m. No wonder it's in trouble

 

 

 

 

 

 

Minouche Shafik says another rate cut still likely

 

The deputy governor for banking and markets argued another cut would help ensure a slowdown "doesn’t turn into something more pernicious”

 

 

 

 

 

 

 

Brexit vote threatens UK's rising global competitiveness, says WEF

 

Britain’s rise in the league table for global competitiveness risks being reversed by the vote to leave the EU

 

 

 

 

 

RBS pays £846m settlement for its role in the 2008 financial crisis

 

 

 

 

 

OECD says glass ceiling remains despite high-profile appointments

 

 

 

 

 

 

Angela Merkel's Deutsche Bank dilemma - is there a way out?

 

The German Chancellor has said she won't step in to help the troubled bank. Its chief executive says he's fine with that, but the market's think otherwise

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

London homes are second most over-valued in world

 

UBS Wealth Managment’s latest ‘Bubble Index’ shows that London is at high risk of forming a housing bubble

 

 

 

 

 

George Osborne says the Bank of England's QE makes the rich richer

 

 

 

 

 

Disney and Microsoft in list of potential bidders for Twitter

 

 

 

 

 

 

Wolseley to cut 800 UK jobs and shut 80 branches as part of overhaul

 

The group employs 6,000 people in the UK and operates across 750 branches

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

Areva says awarded 5 billion euros worth of Hinkley Point contracts

 

PARIS French nuclear group Areva said on Thursday it has won contracts worth over 5 billion euros (£4.32 billion) to provide various services at Britain's $24 billion Hinkley Point nuclear project.

6:58pm BST

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Nissan sets 'hard Brexit' compensation condition for new UK investment

 

PARIS/LONDON Nissan wants Britain to pledge compensation for any tax barriers resulting from its decision to leave the European Union, or the Japanese automaker could scrap a potential new investment in the country's biggest car plant, its CEO said on Thursday.

5:50pm BST

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FTSE buoyed by oil shares after OPEC agrees supply curbs

 

LONDON Britain's top share index approached a 1-1/2 year high on Thursday, boosted by heavyweight oil companies after a decision by OPEC to curb output for the first time since 2008. [O/R]

5:12pm BST

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Planned global banking rules not balanced, need changes - EU's Dombrovskis

 

BRUSSELS A planned reform of global banking rules being discussed by the United States, Europe, Japan and other major economies risks negatively affecting European banks and needs to be changed, the EU financial services commissioner said on Thursday.

4:38pm BST

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Britain will have to stick with EU bank regulation after Brexit - lobbyist

 

FRANKFURT Britain will have no choice but to stick with European Union banking laws when it leaves the bloc to avoid blowing a "huge hole" in its regulatory system, a financial industry lobbyist said on Thursday.

5:00pm BST

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Strong inflation numbers from Germany, Spain take pressure off ECB

 

BERLIN/MADRID German inflation picked up in September to reach its highest level in 16 months and Spanish consumer prices rose for the first time since May 2014, positive signs for the European Central Bank that its ultra-loose monetary policy is working.

2:49pm BST

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As Deutsche struggles, German lawmakers say no more help for ailing banks

 

BERLIN Germany will not help ailing lenders such as Deutsche Bank, senior lawmakers in Chancellor Angela Merkel's conservative bloc said on Thursday, as resistance grew to any possibility of staging a rescue.

3:58pm BST

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Airbus Group to merge with its planemaking unit - sources

 

PARIS Airbus Group SAS is likely to merge with its main planemaking unit, Airbus SAS, as part of a corporate restructuring being finalised on Thursday, people familiar with the matter said.

6:04pm BST

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OPEC agrees modest oil output curbs in first deal since 2008

 

ALGIERS OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.

3:57pm BST

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British Steel back in profit after spin-off from Tata

 

SCUNTHORPE, England British Steel has returned to profit in its first 100 days of trading after being spun off as a loss-making division in April by India's Tata Steel after it decided to exit the troubled British steel sector.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

Hinkley Point contract is signed

 

 

 

 

The UK Government and French energy giant EDF sign the key contract for the new £18bn Hinkley Point C nuclear power station.

 

  • 29 September 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

 

Fox warns European Union over tariff war

 

The International Trade secretary says he wants a deal with the EU 'at least as free' as the current single market arrangements, meaning a 'hard' Brexit could be on the cards.

Kamal Ahmed Economics editor

 

 

  • 29 September 2016
  • From the section Business
  • comments

 

 

Related content

 

 

 

 

 

 

 

Live Business Live: Wells Fargo boss testifies

 

John Sutmpf, chief executive of Wells Fargo, grilled by Congress for ghost accounts scandal; Oil price recovery fuels FTSE 100 rally.

 

 

 

 

 

 

Millions have saved 'less than £100'

 

  • 29 September 2016
  • From the section Business

 

 

Commerzbank plans to cut 9,600 jobs

 

  • 29 September 2016
  • From the section Business

 

 

L'Oreal seeks to print living hair

 

 

 

 

 

 

Price comparison sites to be probed

 

  • 29 September 2016
  • From the section Business

 

 

Oil eases on doubts over Opec output cut

 

  • 29 September 2016
  • From the section Business

 

 

Fox predicts free EU trade post-Brexit

 

 

 

HP apologises for ink-blocking update

 

 

 

Samsung washing machines 'explode' in US

 

  • 29 September 2016
  • From the section Business

 

 

Congestion charge firm's shares sink 25%

 

  • 29 September 2016
  • From the section Business

 

 

 

 

Also in the News

 

 

 

Does UK sell boomerangs to Australia?

 

  • 29 September 2016
  • From the section Business

 

 

 

 

Plan for 'flood risk' symbols on homes

 

  • 29 September 2016
  • From the section Business

 

 

 

 

Features & Analysis

 

 

 

An excuse to shop

 

Will Brexit be a boon for tourists?

 

  • 29 September 2016
  • From the section Business

 

 

 

 

 

Thirsty business

 

Is the world wide web a waste of water?

 

  • 29 September 2016
  • From the section Business

 

 

 

 

 

Enter the dragon

 

China football boom offers golden goal for UK firms

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

Kenya secures deal to keep duty-free access to EU market

 

NAIROBI Kenya will retain duty-free access to the European Union for its products, its trade minister said on Thursday, reassuring exporters who feared problems in clinching a deal between the EU and the East African Community could lead to tariffs.

5:30pm BST

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FTSE buoyed by oil shares after OPEC agrees supply curbs

 

LONDON Britain's top share index approached a 1-1/2 year high on Thursday, boosted by heavyweight oil companies after a decision by OPEC to curb output for the first time since 2008. [O/R]

5:12pm BST

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Brexit ball in Britain's court - Austrian finance minister

 

LONDON The Brexit ball is in Britain's court and the country should start the procedure to exit the European Union as soon as possible, Austrian Finance Minister Hans Joerg Schelling said on Thursday.

5:11pm BST

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Britain will have to stick with EU bank regulation after Brexit - lobbyist

 

FRANKFURT Britain will have no choice but to stick with European Union banking laws when it leaves the bloc to avoid blowing a "huge hole" in its regulatory system, a financial industry lobbyist said on Thursday.

5:00pm BST

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Nobel laureate Maskin wants bureaucrats to set euro fiscal policy

 

FRANKFURT Unelected bureaucrats, rather than politicians, should be put in charge of the euro zone's fiscal policy, Nobel prize laureate Eric Maskin said on Thursday, arguing they would be in a better position to decide for the public good.

4:44pm BST

Motoring group AA considers pension deals as deficit widens

 

(This September 28th story corrects paragraph 12 to clarify identity of buyers of AA's Irish unit)

4:42pm BST

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Planned global banking rules not balanced, need changes - EU's Dombrovskis

 

BRUSSELS A planned reform of global banking rules being discussed by the United States, Europe, Japan and other major economies risks negatively affecting European banks and needs to be changed, the EU financial services commissioner said on Thursday.

4:38pm BST

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Hollande's tax boost for French firms yields 100,000 jobs - study

 

PARIS President Francois Hollande's flagship measure to boost France's waning competitiveness has saved or created up to 100,000 jobs, a government-sponsored study said on Thursday.

4:37pm BST

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'Sell in May and go away'? Not this year, as stocks power ahead in third quarter

 

(This September 28th story corrects Robeco Investment Solution's assets under management and company structure in paragraph 15)

4:15pm BST

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Wells Fargo chief Stumpf heads to Hill with pressure mounting

 

Wells Fargo & Co's Chief Executive John Stumpf returns to Capitol Hill on Thursday with his job still under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted
Posted

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites
interestrateripoff

interestrateripoff

Posted
Posted

As Deutsche struggles, German lawmakers say no more help for ailing banks

 

BERLIN Germany will not help ailing lenders such as Deutsche Bank, senior lawmakers in Chancellor Angela Merkel's conservative bloc said on Thursday, as resistance grew to any possibility of staging a rescue.

3:58pm BST

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OPEC agrees modest oil output curbs in first deal since 2008

 

ALGIERS OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.

3:57pm BST

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Germany's Commerzbank cuts nearly 10,000 jobs, halts dividend

 

FRANKFURT Germany's Commerzbank will cut more than a fifth of its workforce and suspend its dividend as it tackles the challenges of low interest rates, weak profits and the shift to online banking.

3:52pm BST

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BP sells Sunbury office building for 360 million pounds - industry sources

 

LONDON BP has sold its biggest office building in Britain to a local council for an estimated 360 million pounds, according to industry sources, and will remain in the premises as a tenant.

3:48pm BST

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Australia names Lockheed Martin as weapons system provider for new submarines

 

SYDNEY Australia has selected U.S. defence company Lockheed Martin Corp as its preferred bidder to supply the combat system for its new $38 billion fleet of submarines, the country's defence industry minister said on Friday.

3:06pm BST

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Russia says OPEC deal positive but aims to keep output at existing level - RIA

 

MOSCOW Russian Energy Minister Alexander Novak said on Thursday he thought OPEC's deal to modestly curb output was a positive signal for the market, but that Russia aimed to keep its own oil production at existing levels.

3:02pm BST

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Britain, France to sign Hinkley Point nuclear deal on Thursday - sources

 

LONDON/PARIS The British government and France's EDF will officially sign a contract to build Britain's first new nuclear power plant in a generation on Thursday, after months of wrangling over the involvement of EDF's Chinese partner, sources said.

2:59pm BST

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Exclusive - Greek budget to forecast economic rebound in 2017: source

 

ATHENS Greece is forecasting 2.7 percent economic growth next year, its first rebound after seven years of crippling recession, as investment picks up and tourism surges, a government official familiar with the draft budget said on Thursday.

2:57pm BST

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Strong inflation numbers from Germany, Spain take pressure off ECB

 

BERLIN/MADRID German inflation picked up in September to reach its highest level in 16 months and Spanish consumer prices rose for the first time since May 2014, positive signs for the European Central Bank that its ultra-loose monetary policy is working.

2:49pm BST

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StanChart starts direct trading between yuan, Saudi riyal, UAE dirham

 

DUBAI Standard Chartered said on Thursday it had started direct trading between the Chinese yuan, Saudi Arabia's riyal and the UAE's dirham, making it one of the first market-makers to trade those currency pairs in China's interbank market.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites
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Posted
Posted

Chinese market toughest in three decades, says WPP head

 

SHANGHAI China's business climate is the toughest it's been for three decades for international firms, Martin Sorrell, head of the world's largest advertising firm WPP Plc, told Reuters on Thursday.

2:39pm BST

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UK lenders approve fewest mortgages in nearly two years - BoE

 

LONDON British lenders approved the fewest mortgages in nearly two years last month as the housing market continued to slow after June's vote to leave the European Union, raising the chance of an outright fall in prices next year.

2:36pm BST

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Lufthansa shares knocked by Eurowings expansion deals

 

BERLIN Shares in Lufthansa fell to a four-year low on Thursday on concerns its plans to boost its low-cost Eurowings brand by leasing Air Berlin planes would neither lower costs nor head off larger rivals.

1:39pm BST

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Deutsche Bank is not Europe's Lehman moment - Austrian finance minister

 

LONDON Deutsche Bank's troubles are not Europe's Lehman Brothers moment, Austria's finance minister said on Thursday, although he warned the region's lenders were facing a broader profitability crisis.

1:37pm BST

TI Fluid Systems looks to raise 600 million euros in London debut

 

Auto parts maker TI Fluid Systems said it expected to raise about 600 million euros (£517.99 million) in an initial public offering in London, signalling a return of IPOs that were put on the back burner because of Britain's vote to leave the European Union.

1:33pm BST

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German inflation picks up to hit 16-month high

 

BERLIN German annual inflation accelerated in September, hitting its highest level in 16 months, preliminary data showed on Thursday, in an encouraging sign for the European Central Bank that its ultra-loose monetary policy is working.

1:26pm BST

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After CEO move, GSK picks ex-Novartis executive to head consumer unit

 

LONDON GlaxoSmithKline has promoted a former Novartis executive to lead its consumer healthcare business, following the appointment last week of the unit's previous head, Emma Walmsley, as CEO designate of the drugmaker.

1:24pm BST

Britain's Capita feels Brexit chill as profits, shares take a hit

 

LONDON Outsourcing group Capita warned on Thursday that delays in decision making by customers after Britain's vote to leave the European Union would hit its 2016 profit, wiping $2.3 billion (£1.77 billion) off its shares in their worst day of trading.

1:19pm BST

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Bank lobby urges EU not to leave Britain out of capital markets union

 

FRANKFURT Global bank lobby group ICMA urged the European Union on Thursday to keep Britain in its plans for a capital markets union, saying a failure to do so would leave the project "substantially diminished".

1:16pm BST

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Not yet clear if stocks an appropriate ECB tool - Jazbec

 

LJUBLJANA The European Central Bank is always studying a range of potential instruments to use, like buying stocks, but it was too early to conclude whether such purchases would be appropriate, Governing Council member Bostjan Jazbec said on Thursday.

Toyota drops diesel from new model, signals likely phase-out

 

PARIS Toyota has decided to drop diesel engines from its new C-HR compact in the wake of Volkswagen's emissions scandal and will probably do the same for future model renewals, the carmaker's second-ranking global executive said on Thursday.

12:44pm BST

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Exclusive - Genel Chairman Tony Hayward to step down next year: sources

 

LONDON Tony Hayward, the former BP boss, is set to step down next year as chairman of Genel Energy , which he founded in 2011 and became the biggest oil and gas producer in Iraqi Kurdistan, three sources close to the company said.

12:39pm BST

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Renault sees 'stabilisation' of European car market in 2017

 

PARIS Renault expects the European car market to grow 5 percent this year before steadying in 2017, an executive at the French car manufacturer said on Thursday.

12:35pm BST

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Lufthansa says Brussels Airline brand won't disappear immediately

 

BERLIN Lufthansa will take the next year to analyse how to integrate Brussels Airlines into the airline group, meaning it will be 2018 before any customers see changes to the brand, a Lufthansa executive said on Thursday.

12:32pm BST

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Security concerns deter family visits to London attractions - Merlin

 

LONDON Merlin Entertainments , the British theme park operator fined this week for a rollercoaster crash, lowered its full-year core earnings margin forecast on Thursday due to weaker trading at its city centre attractions like Madame Tussauds waxworks.

12:12pm BST

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Santander seen mapping out post-Brexit targets in investor update

 

MADRID Banco Santander is expected to adopt more conservative targets in Britain to reflect the immediate impact of the Brexit vote when the Spanish bank updates investors on its strategy on Friday.

12:10pm BST

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New Adidas CEO sets off in pursuit of Nike

 

BERLIN Closing the gap on clear market leader Nike is the challenge facing new Adidas boss Kasper Rorsted when the Dane takes charge of the world's second biggest sportswear brand from the start of October.

12:07pm BST

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Former BlackRock fund manager charged with insider dealing in UK

 

LONDON Mark Lyttleton, a former fund manager at the UK division of asset manager BlackRock Inc , has been charged with insider dealing by Britain's markets regulator.

11:55am BST

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Takata should file for bankruptcy protection, all five bidders say - sources

 

TOKYO All five bidders seeking to bail out Japan's beleaguered Takata Corp have presented restructuring plans that require the air bag maker to file for bankruptcy protection, people with knowledge of the process told Reuters.

11:44am BST

Chemring signs A$18 million Australian defence contract

 

British defence contractor Chemring Group Plc , which has been struggling with defence budget cuts in its key markets, said on Thursday that it had signed an Australian contract for A$18 million (£10.61 million).

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites
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Posted

British Airways scraps free snacks on short flights

 

LONDON British Airways said on Thursday it will no longer provide free snacks and food in economy class on short-haul and domestic flights, joining budget carriers like Ryanair and easyJet which charge for sandwiches and other items.

11:36am BST

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China's slow economy, overcapacity limit investment opportunities - central bank

 

BEIJING China's slowing economy and problems with industrial overcapacity have reduced investment opportunities, the official Xinhua news agency said, citing Fan Gang, a member of China's central bank monetary committee.

11:02am BST

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UBS warns negative rates could hit more depositors

 

ZURICH UBS , the world's biggest wealth manager, could pass on negative interest rates to more depositors if Switzerland's central bank persists with sub-zero rates, Chief Executive Sergio Ermotti said on Thursday.

10:58am BST

Crystal Amber CEO says can help Johnston Press renegotiate debt

 

LONDON/BENGALURU Johnston Press shareholder Crystal Amber Fund Ltd can help management avoid a poor debt restructuring deal, the hedge fund's chief executive officer told Reuters.

10:52am BST

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Vestager says EU may review small but data-rich M&A deals

 

BRUSSELS EU regulators are considering whether companies that gain access to valuable data via small M&A deals should seek approval for these acquisitions to ensure that they will not hurt competition, the EU's antitrust chief said on Thursday.

10:38am BST

Azerbaijan says will try to take into account OPEC oil output deal

 

BAKU Azerbaijan will try to take into account an agreement between members of the Organization of the Petroleum Exporting Countries to reduce production when calculating its 2017-2018 oil output, Azeri Energy Minister Natig Aliyev told Reuters on Thursday.

10:32am BST

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Goldman says OPEC deal to add as much as $10 to first half 2017 oil prices

 

Goldman Sachs said the deal reached by OPEC crude producers on Wednesday to curb output should add $7 to $10 to oil prices in the first half of next year.

10:30am BST

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Hammond confirms end to support for high loan-to-value mortgages

 

LONDON British finance minister Philip Hammond said on Thursday he planned to close a government-backed mortgage guarantee scheme, part of its Help to Buy housing programme, at the end of 2016 as previously scheduled.

10:29am BST

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Shell declares force majeure on chemical supply from Singapore

 

SINGAPORE Royal Dutch Shell has declared force majeure on base chemicals from its ethylene cracker at its Bukom manufacturing site in Singapore on Thursday, following an outage the day before, a company spokeswoman said.

10:27am BST

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Samsung says more than one million people globally using Note 7 with different battery

 

BEIJING Samsung Electronics Co Ltd has more than 1 million people globally using Galaxy Note 7 smartphones with batteries that are not vulnerable to overheating and catching fire, said a statement on the firm's Chinese website on Thursday.

German conservatives raise pressure on IMF to join Greek bailout

 

BERLIN Several German conservative lawmakers expressed concern on Thursday that the International Monetary Fund had not yet joined the third aid package for Greece with one calling for a new parliamentary vote if the IMF did not commit by the end of 2016.

10:17am BST

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FCA calls for wider taping of banker calls and emails

 

LONDON Britain's Financial Conduct Authority has proposed stricter rules requiring bankers advising companies on corporate finance to record all telephone calls and electronic communications, in a bid to clamp down on insider trading and other market abuses.

10:14am BST

Euro zone economic sentiment much better than expected in September

 

BRUSSELS Economic sentiment in the 19 countries sharing the euro was much better than expected in September thanks to a rebound of confidence in industry in the biggest economies, data from the European Commission showed on Thursday.

10:14am BST

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ECB ready to extend QE if needed - Liikanen

 

HELSINKI The European Central Bank is ready to extend its asset buying programme if required to reach its inflation objective, Governing Council member Erkki Liikanen said on Thursday.

10:09am BST

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Seoul court denies arrest warrant for Lotte Group chairman; corruption probe continues

 

SEOUL A South Korean court rejected a request by prosecutors for a warrant to arrest Lotte Group Chairman Shin Dong-bin in the latest twist in a wide-ranging corruption probe that has convulsed the country's fifth-largest family-run conglomerate.

10:02am BST

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Wal-Mart in talks to buy stake in Indian online retailer Flipkart - sources

 

MUMBAI/HONG KONG Wal-Mart Stores Inc is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two people familiar with the matter said, as the world's biggest retailer aims to break into a fast growing but highly competitive online retail market.

9:23am BST

Bank of Finland cuts Europe growth forecasts on Brexit, Italy problems

 

HELSINKI Finland's central bank cut on Thursday its forecast for economic growth in Europe for next year, citing impacts from Britain's vote to leave the EU as well as weakened economic prospects in Italy.

9:06am BST

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From robots to websites, British firms curb spending due to Brexit

 

READING, England Heavy machinery whirrs and clanks on the factory floor of precision metalworking firm Robert Bion & Co, where a planned three-metre robotic arm would have been speeding up output by now, if Britain had not voted to leave the European Union.

9:01am BST

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Altering EU's free movement stance could start domino effect - Austria

 

LONDON Altering the European Union's principal of free movement of labour in the wake of Britain's vote to leave the bloc could start a problematic domino effect, Austrian Finance Minister Hans Joerg Schelling said on Thursday.

8:51am BST

Shanks Group, recycler Van Gansewinkel agree on deal terms

 

British waster manager Shanks Group Plc said it had agreed terms to buy Dutch recycler van Gansewinkel Groep BV, paving the way for the combined company to become a leader in the Benelux region.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites
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Novo Nordisk to axe 1,000 jobs in cost-cutting drive

 

COPENHAGEN The world's largest insulin maker, Novo Nordisk , is cutting 1,000 jobs as a part of a plan to reduce costs as it faces a challenging environment in 2017, especially in the large U.S. market, the company said on Thursday.

8:20am BST

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Kuroda says BOJ will pursue appropriate yield curve to hit price goal

 

TOKYO Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank will pursue the most appropriate yield curve to achieve its 2 percent inflation target.

8:01am BST

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VW brand CEO expects 2016 auto sales to grow year-over-year

 

PARIS Volkswagen expects sales of its VW-branded cars to rise this year, brand chief Herbert Diess said on Thursday at the Paris car show.

7:40am BST

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Anglo American eyes job cuts at Australian coal mine

 

SYDNEY Global miner Anglo American on Thursday said it had opened talks with workers and unions on a proposal to cut 90 jobs at its Capcoal coking coal mine in Australia, where industrial work stoppages have been underway since August.

7:36am BST

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Britain must explain Brexit strategy to limit uncertainty - think tank

 

LONDON Britain needs to begin explaining its Brexit strategy to avoid prolonged uncertainty for businesses and negotiating partners, a London-based think tank said on Thursday, warning that internal squabbling risked undermining the government's position.

7:35am BST

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Fed, BOJ add shine to risk-parity strategy

 

NEW YORK The Federal Reserve and Bank of Japan's actions last week have given a second wind to an alternative investment strategy that relies on cheap money and low market volatility to produce outsized returns.

6:56am BST

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Devil's in the details of OPEC deal as Asia buyers remain cautious

 

SINGAPORE/SEOUL Asian crude oil buyers remained cautious, eyeing details of an OPEC deal after the oil-producers group agreed for the first time since 2008 to reduce output in an oversupplied market.

5:44am BST

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Samsung says in talks with U.S. watchdog on washing machine safety issues

 

SEOUL Samsung Electronics , which is already reeling from a global recall of its Note 7 smartphones, said on Thursday it is in talks with a U.S. watchdog to address potential safety problems related to some of its washing machines.

5:19am BST

Relief arrives for U.S. shale firms as OPEC folds in price battle

 

HOUSTON It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets.

5:07am BST

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Samsung expects to get over 80 percent of recalled Note 7s in South Korea by October 1

 

SEOUL Samsung Electronics Co Ltd said on Thursday it expects to have recovered more than 80 percent of recalled Galaxy Note 7 smartphones sold in South Korea by Oct. 1, when the firm plans to resume sales of the device in its home market.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites
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interestrateripoff

Posted
Posted

The underground pipeline shaping North Korea's new capitalists

 

SEOUL As the United States and other nations grasp for new ways to sanction Pyongyang in response to its latest nuclear test, some North Korean defectors see investment in its rudimentary market economy as a way to foment gradual change from within.

3:37am BST

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VW CEO hopeful of deal with U.S. authorities by year-end

 

PARIS Volkswagen AG Chief Executive Matthias Mueller said on Wednesday he is hopeful the German automaker can reach agreement by the end of the year with the U.S. government on the size of a fine to settle a criminal investigation of the company's alleged violations of U.S. clean air laws.

3:15am BST

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Fed's primal divide - Is economy overheating or stuck in a rut?

 

ST. LOUIS Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between.

2:03am BST

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Japan's August retail sales slip renews pressure on policymakers

 

TOKYO Japan's retail sales fell more than expected in August for the sixth straight month of annual declines due to falling sales of clothes and home appliances - keeping policymakers under pressure to find ways of beefing up household spending.

1:43am BST

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Oil soars 6 percent as OPEC reaches deal to limit output in Nov

 

NEW YORK Oil prices settled up nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since 2008 and after the market crashed on oversupply.

1:16am BST

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Wells Fargo's CEO pay clawback puts Wall Street executives on notice

 

NEW YORK Wells Fargo & Co's unprecedented move to strip Chief Executive John Stumpf of $41 million in stock awards has sent a chill through Wall Street with bankers fearful that a hardening political climate against corporate wrongdoing will encourage boards to be more aggressive about making them forfeit pay.

12:01am BST

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Oil rallies on OPEC deal; energy leads Wall Street higher

 

NEW YORK Oil prices rallied on Wednesday after members of the Organization of the Petroleum Exporting Countries reached an agreement on a production-limiting deal, boosting energy sector shares.

28 Sep 2016

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Exclusive: U.S. approves Boeing, Lockheed fighter jet sales to Gulf - sources

 

BERLIN The United States on Wednesday began notifying lawmakers that it has approved $7 billion in long-stalled sales of Boeing Co fighter jets to Kuwait and Qatar, and more than $1 billion in Lockheed Martin Corp jets to Bahrain, sources familiar with the decision said.

28 Sep 2016

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Draghi rejects German criticism, calls on Berlin to pull its weight

 

BERLIN European Central Bank President Mario Draghi rejected German criticism that sub-zero interest rates were impoverishing savers and straining top lender Deutsche Bank , saying its monetary policy was a necessity to get the euro zone back on the path to growth and revive inflation.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

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Posted

IBM to Acquire Promontory, a Financial Consulting Firm

 

By MICHAEL J. de la MERCED 11:33 AM ET

 

 

IBM said that Promontory, which advises banks on regulatory matters, would mesh with its own offerings, including its Watson artificial intelligence platform.

 

 

 

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Tristan Spinski for The New York Times

 

 

Entrepreneurship

 

Maine’s ‘Clean’ Medical Marijuana: ‘Organic’ in Disguise

 

By MURRAY CARPENTER

 

As growers and enterprises see more competition, a new labeling program may help them stay competitive. Just don’t call it “organic.”

 

 

 

 

 

 

 

 

 

 

 

 

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What Wells Fargo’s C.E.O. Is Telling Congress

 

By ERIC OWLES

 

Hastening a policy change, John Stumpf said that Wells Fargo would eliminate sales goals for its retail bankers by the end of the week, three months earlier than it had planned.

 

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Paid Sick Leave for Federal Contractors Is Mandated by Labor Department

 

By NOAM SCHEIBER

 

The rule, which is estimated to directly affect more than 1.1 million people, will enable workers to accrue up to seven days for medical care for themselves or relatives.

 

29DB-DEUTSCHE-thumbStandard.jpg

Deutsche Bank Is the Darling of the Short-Sellers

 

By LANDON THOMAS Jr.

 

By the numbers, Deutsche Bank is solid. But its legal battles, its thin cash cushion and its risk appetite have undermined its stock.

 

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Salesforce Is Said to Question Microsoft-LinkedIn Deal in Europe

 

By MARK SCOTT and NICK WINGFIELD 1:36 PM ET

 

Salesforce, a San Francisco tech company, is said to have questioned whether Microsoft’s takeover of LinkedIn might hinder consumer choice and access to data.

 

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In Letter, Redstones Urge Viacom and CBS to Explore Merger

 

By EMILY STEEL 9:34 AM ET

 

The media mogul Sumner Redstone and his daughter, Shari Redstone, are suggesting an all-stock transaction that would leave them firmly in control.

 

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OPEC Agrees to Cut Production, Sending Oil Prices Soaring

 

By CLIFFORD KRAUSS and STANLEY REED

 

Although the deal would lower global output by less than 1 percent, it is the first time in eight years the cartel has said it would reduce production.

 

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Oil Prices: What’s Behind the Volatility? Simple Economics

 

By CLIFFORD KRAUSS

 

The oil industry, with its history of booms and busts, has been in its deepest downturn since the 1990s, if not earlier.

 

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F.C.C. Delays Vote on Cable Set-Top Boxes

 

By CECILIA KANG 8 minutes ago

 

The plan is intended to free consumers from renting the boxes, which cost them $231 a year on average.

 

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U.S. Just Made It a Lot Less Difficult to Sue Nursing Homes

 

By JESSICA SILVER-GREENBERG and MICHAEL CORKERY

 

The decision, by the Department of Health and Human Services, would restore the right to legal action to 1.5 million nursing home residents.

 

 

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Law on Disparaging Trademarks Gets Supreme Court Review

 

By ADAM LIPTAK 56 minutes ago

 

The case involves an Asian-American dance-rock band called the Slants, but it also has implications for the Washington Redskins.

 

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Defending Against Hackers Took a Back Seat at Yahoo, Insiders Say

 

By NICOLE PERLROTH and VINDU GOEL

 

Clashes over costs and fears that security measures would chase away customers hobbled Yahoo’s efforts, leading to the 2014 breach of 500 million users.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted

The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash

 

Wells Fargo To Be Sanctioned By DOJ For Improperly Seizing Soldiers' Cars

 

Major Dollar Shortage Exposed In Europe As Deutsche Bank Contagion Spreads

 

Stanley Fischer's Novel Idea: "We'd Be Better Off With A Price For Using Money"

 

Final Q2 GDP Comes At 1.4%: US Set To Grow At Slowest Pace Since Financial Crisis

 

Pain Spreads To Germany's Second Biggest Bank: Commerzbank Scraps Dividend, Fires 20% Of Workforce

 

Bank Of England Governor Warns Of ZIRP/QE "In Perpetuity"

 

These Are The Best And Worst U.S. Cities For Rising Home Prices

 

How Much Money Have Humans Created - A Visual History

 

No Need For Yield Curve Inversion (There Is Already Much Worse Indicated)

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted

China's Richest Man Says Mainland Real Estate Is The "Biggest Bubble In History"

 

"It’s A Lot More Negative Than People Think" - China Beige Book Issues Stark Warning About The Economy

 

Peak Debt Complacency: Carmen "Different This Time" Reinhart Urges Debt Restructuring

 

What's The Opposite Of "Nailed It"?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted
Posted

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted
Posted

 

 

 

 

European customers are boycotting British cars, says Jaguar Land Rover boss

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted
Posted

Firms expect growth amid calls for clear Brexit strategy

 

A new study shows that all sectors expect strong growth in the next three months

 

 

 

 

 

Brexit is a ‘once-in-a-generation’ chance to save UK’s wildlife

 

 

 

 

 

The 19 countries with the highest level of government debt

 

 

 

 

 

 

 

 

Deutsche Bank chief Cryan issues reassurance as shares wobble

 

Deutsche's shares hit record lows on Friday morning, but recoveredafter John Cryan's comments

 

 

 

 

 

Asos working conditions to be investigated by MPs

 

 

 

 

 

RBS revives NatWest Markets as it removes its name from its investment

 

 

 

 

 

 

Nissan demands Brexit compensation deal before making UK investment

 

The plant in Sunderland produces about a third of the UK’s car output and is heavily dependent on exports to the single market

 

 

 

 

 

 

Nissan's warning on Brexit is the shape of things to come

 

Trade minister Liam Fox can pout and pontificate all he wants but business leaders are cutting investment and job losses will follow

 

 

 

 

 

 

 

 

Deutsche Bank CEO's memo to staff in full

 

The collapse follows reports that ten hedge funds had reduced their exposure to the lender and have taken their business elsewhere

 

 

 

 

 

 

Deutsche Bank fears rattle stock market as shares hit record low

 

Chief executive of bank says 'new rumours' causing share price to fall

 

 

 

 

 

 

 

 

Services power UK economy in wake of referendum

 

The UK’s dominant services sector grew 0.4 per cent in July according to the latest official data, confirming the impression that the economy has so far brushed off the impact of the Brexit vote

 

 

 

 

 

 

Restaurants that serve big puddings to be named and shamed

 

Pizza Express, Starbucks, McDonald’s and Gourmet Burger Kitchen have been told to reduce the size of their cakes and pastries

 

 

 

 

 

Will Alphabet's YouTube compete with Spotify and Apple Music?

 

 

 

 

 

Andrew Tyrie blasts banks and regulators over IT failings

 

 

 

 

 

 

Sainsbury's launches dairy-free cheese range suitable for vegans

 

Sainsbury’s dairy-free cheeses are available in stores across the UK from 28 September.

 

 

 

 

 

 

 

 

How on earth will Labour raise £500bn to make Britain more socialist?

 

The Biq Questions: Where would the money come from? Would it be printed? Do we need it? What would be the consequences?

 

 

 

 

 

 

CMA probes price sites but don't let that stop you switching

 

They've generally been a good thing but there are issues with the way they operate. The CMA's review could also help it to put right a mistaken ruling

 

 

 

 

 

 

 

New scandal threatens Ian Taylor's Vitol

 

Vitol faces claims it bamboozled Mozambique, the impovershed African nation, into overpaying in a fuel deal

 

 

 

 

 

Asos staff are fired for having panic attacks, report claims

 

 

 

 

 

The Truth about Vitol’s tax affairs

 

 

 

 

 

 

Capita has tripped up. What's the problem? Who can tell?

 

The outsourcer's trading statement is full of corporate gobbledygook. Perhaps it should outsource future missives to somone who can write in plain English

 

 

 

 

 

 

 

Mortgage approvals fall to lowest in 21 months

 

Mortgage approvals slipped to 60,058 in August, the lowest since November 2014, which analysts said pointed to a softening of the housing market

 

 

 

 

 

Samsung washing machines are now exploding too

 

 

 

 

 

The best companies to have a job interview with revealed

 

 

 

 

 

 

Global stock markets rally as OPEC agrees to slash oil production

 

In a decision led by a rapprochement between Saudi Arabia and Iran, OPEC ministers decided to cut production by 750,000 barrels a day

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spotify in talks to buy SoundCloud

 

The streaming giant is reportedly making moves

 

 

 

 

 

Business news in brief on Wednesday September 28

 

 

 

 

 

Apple to move London HQ to Battersea Power Station

 

 

 

 

 

 

Tariffs on UK car exports to EU would be 'disastrous' for jobs

 

EXCLUSIVE: Hanno Kirner, executive director at JLR, issued the stark warning ahead of the Paris Motor Show

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sainsbury’s better for shoppers than shareholders

 

The grocer has proved the doubters wrong in the past, but if faces some daunting challenges

 

 

 

 

 

 

 

 

RBS pays £846m settlement for its role in the 2008 financial crisis

 

RBS sold the securities to two credit unions, which failed after the US housing bubble burst in 2008.

 

 

 

 

 

 

 

OECD says glass ceiling remains despite high-profile appointments

 

Women are still being left out of the top jobs and make up a tiny minority of Britain's best paid people

 

 

 

 

 

 

Angela Merkel's Deutsche Bank dilemma - is there a way out?

 

The German Chancellor has said she won't step in to help the troubled bank. Its chief executive says he's fine with that, but the market's think otherwise

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted

Heathrow decision to be made 'shortly'

 

 

Transport Secretary Chris Grayling says a decision on where to locate a new runway in South East England will be taken "shortly".

 

  • 2 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

 

Tesco faces UK legal action by investors

 

Tesco is facing legal action by a group of investors who claim to have lost £150m because of the supermarket's 2014 accounting irregularities scandal.

 

  • 2 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Unions press for workers on boards

 

The TUC says workers could be represented on company boards within a year, if the government acts quickly on a promise by Prime Minister Theresa May.

 

  • 2 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

Is OPEC back in charge?

 

  • 30 September 2016
  • From the section Business

 

 

Monarch holidays protection extended

 

  • 1 October 2016
  • From the section Business

 

 

Work to start on new nuclear submarines

 

  • 1 October 2016
  • From the section UK

 

 

 

 

 

Insurance tax rise 'a raid' on wallets

 

  • 30 September 2016
  • From the section Business

 

 

Best energy deals for new customers only

 

  • 30 September 2016
  • From the section Business

 

 

Rate rise 'to push up broadband bills'

 

  • 30 September 2016
  • From the section Business

 

 

Finances strong, says Deutsche Bank boss

 

  • 30 September 2016
  • From the section Business

 

 

UK spending rises strongly in July

 

  • 30 September 2016
  • From the section Business

 

 

Wealth of early-30s 'halved in a decade'

 

  • 30 September 2016
  • From the section Business

 

 

 

 

Also in the News

 

 

 

Pinewood celebrates 80 years of film

 

 

 

 

 

Does UK sell boomerangs to Australia?

 

  • 29 September 2016
  • From the section Business

 

 

 

 

Features & Analysis

 

 

 

 

Scent of success

 

The cafe defying a very unenviable location

 

  • 2 October 2016
  • From the section Business

 

 

 

 

 

Social worker

 

The blind coder who makes Facebook accessible

 

  • 30 September 2016

 

 

 

 

 

'Exploding phones'

 

Has Samsung's brand been burned?

 

 

 

 

 

 

 

 

Footballers' wines

 

Barcelona's Iniesta has roots deep in family vineyard

 

  • 30 September 2016
  • From the section Business

 

 

 

 

 

Cash calendar

 

How to ensure your finances bloom

 

  • 30 September 2016
  • From the section Business

 

 

 

 

 

Money makers

 

Younger than Nigeria but beating the recession

 

  • 1 October 2016
  • From the section Africa

 

 

 

 

 

 

Our Experts

 

Fox warns European Union over tariff war

 

The International Trade secretary says he wants a deal with the EU 'at least as free' as the current single market arrangements, meaning a 'hard' Brexit could be on the cards.

29 September 2016

 

Kamal Ahmed Economics editor

What are Deutsche Bank's options?

 

Deutsche Bank's shares have hit new lows as confidence in the bank continues to falter. What could its bosses do to reassure its shareholders?

30 September 2016

 

Simon Jack Business editor

Pigeon lofts and tulip fever: What is going on in China’s property markets?

 

Why are property prices rocketing in China at a time when the economy is slowing down?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted

Executive Pay Clawbacks Are Gratifying, but Not Particularly Effective

 

By GRETCHEN MORGENSON

 

Despite clawback provisions at a number of companies, their actual use is somewhat rare, and they are often too weak to pose much of a punitive threat.

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Brendan McDermid/Reuters, Gary Cameron/Reuters, handout and Arnd Wiegmann/Reuters

 

EXECUTIVE CLAWBACKS From left, Ian McCarthy of Beazer Homes USA, Ina Drew of JPMorgan Chase, Babak Yazdani of Saba and Michael Laphen of Computer Sciences.

 

 

 

 

 

 

 

 

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Donald Trump Tax Records Show He Could Have Avoided Taxes for Nearly Two Decades, The Times Found

 

By DAVID BARSTOW, SUSANNE CRAIG, RUSS BUETTNER and MEGAN TWOHEY 11:32 AM ET

 

The Republican nominee reported nearly $1 billion in losses in 1995, opening the door to tax avoidance in subsequent years.

 

 

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A Peek at the Secret English Farm Where Amazon Tests Its Drones

 

By MARK SCOTT

 

The e-commerce giant has big plans to use autonomous aircraft to deliver packages, and is testing the devices in rural England. We went to find them.

 

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A Curious Plan to Fight Climate Change: Buy Mines, Sell Coal

 

By MICHAEL CORKERY and MICHAEL WINES

 

Tom Clarke, a nursing home owner, concocted a strategy to cut carbon emissions by gaining control of millions of tons of coal reserves and multiple mines.

 

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Texas Businessman Agrees to Pay $198.1 Million in Fraud Case

 

By REUTERS 12:54 PM ET

 

The Securities and Exchange Commission accused Sam Wyly and his brother in 2010 of hiding trades in companies they controlled using offshore trusts.

 

01DB-DEUTSCHE-1-thumbStandard-v4.jpg

Deutsche Bank Troubles Raise Fear of Global Shock

 

By PETER S. GOODMAN

 

As investors’ concerns of another crisis are stoked, the arithmetic is less important than fears about the impotence of European authorities.

 

01AMAZON-2-thumbStandard.jpg

Amazon Creates 3 Games for Twitch Fans

 

By NICK WINGFIELD

 

The releases, which will weave features from the popular streaming video service into the gaming experience, are Amazon’s first games aimed at hard-core players.

 

01EATIN-2-thumbStandard.jpg

Dining In: Homemade Chili Gains Ground on Chili’s

 

By STEPHANIE STROM

 

Cheaper groceries, meal kit services and a turn toward more healthful fare have contributed to falling sales at some big restaurant chains.

 

 

01ADWEEK-thumbStandard.jpg

Brands to Ad Agencies: Diversify or Else

 

By SAPNA MAHESHWARI

 

Concerned that agencies’ largely white and male leadership is hindering efforts to connect with American consumers, some companies threaten to walk.

 

Nutanix, a Cloud-Based Business, Soars in I.P.O.

 

By LESLIE PICKER

 

Shares of the company, one of the few venture capital-backed start-ups with a valuation greater than $1 billion to go public this year, more than doubled.

 

01SKIN-thumbStandard-v2.jpg

New Drug for Severe Eczema Is Successful in 2 New Trials

 

By GINA KOLATA

 

Atopic dermatitis causes itching so extreme that many patients consider suicide. In trials, most patients said symptoms waned in the first two weeks of taking a new drug.

 

01GASTAX-thumbStandard.jpg

New Jersey Will Increase Gas Tax 23¢, Ending Long Political Stalemate

 

By PATRICK McGEEHAN

 

Gov. Chris Christie said an agreement with legislative leaders would also trim the sales tax rate and phase out the estate tax.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Posted

Google prepares to reject EU monopoly charges

 

 

 

 

 

 

 

 

 

 

 

 

 


If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites
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Posted
Posted

Britain's finance sector at odds over Brexit lobbying

 

LONDON Large banks in Britain have clashed with other parts of the financial sector about who should be leading efforts to lobby the government over Brexit.

11:55am BST

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Deutsche Bank races against time to reach U.S. settlement

 

FRANKFURT Deutsche Bank is throwing its energies into reaching a settlement before next month's presidential election with U.S. authorities demanding a fine of up to $14 billion (10.79 billion pound) for mis-selling mortgage-backed securities.

4:52pm BST

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When asked about Nissan ultimatum, trade minister says UK is top for safe investment

 

BIRMINGHAM, England Britain is a number one destination for safe investment, trade minister, Liam Fox, said on Sunday, when asked to comment on a carmaker's appeal for Britain to pay compensation for any tax barriers being put up after Brexit.

1:44pm BST

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UK trade minister Fox says wants WTO deal with minimal disruption

 

BIRMINGHAM, England Britain wants to agree post-Brexit terms with the World Trade Organization in a way that causes minimal disruption, trade minister Liam Fox said on Sunday.

2:14pm BST

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UK firms expect output surge in late 2016 despite Brexit vote - CBI

 

LONDON British companies expect a surge in output in the final quarter of the year despite a slowdown in the three months to September, a survey showed, the latest sign that the country's economy is largely coping with the shock vote to leave the European Union.

12:02am BST

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British PM May says is listening to businesses' Brexit demands

 

BIRMINGHAM, England The British government is talking to businesses to find out what sort of deal they want from the country's exit negotiations with the European Union, Prime Minister Theresa May said on Sunday.

10:25am BST

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Germany's Merkel cannot afford to bail out Deutsche Bank - media

 

FRANKFURT German Chancellor Angela Merkel cannot afford to bail out Deutsche Bank given the hard line Berlin has taken against state aid in other European nations and the risk of a political backlash at home, German media wrote on Saturday.

01 Oct 2016

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Exclusive - EU wants Google to stop anti-competitive Android practices, fine expected

 

BRUSSELS EU antitrust regulators plan to order Alphabet's Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine, an EU document showed.

01 Oct 2016

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Deutsche Bank executives heading to U.S. in coming days - FAZ

 

FRANKFURT Deutsche Bank executives are heading to the United States in the coming days to negotiate a settlement over a fine of up to $14 billion for misselling mortgage-backed securities, the Frankfurter Allegemeine Zeitung reported.

01 Oct 2016

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Chinese cities Chengdu, Zhengzhou restrict property purchases

 

SHANGHAI Chinese cities Zhengzhou and Chengdu have announced new restrictions on property purchases, the latest among second- and third-tier cities across the country to try to cool soaring home prices.

Germany's Merkel cannot afford to bail out Deutsche Bank - media

 

FRANKFURT German Chancellor Angela Merkel cannot afford to bail out Deutsche Bank given the hard line Berlin has taken against state aid in other European nations and the risk of a political backlash at home, German media wrote on Saturday.

01 Oct 2016

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Indians disclose $10 billion in hidden wealth in tax evasion amnesty

 

NEW DELHI A government amnesty targeting tax evasion in India has prompted tens of thousands of suspected tax dodgers to disclose nearly $10 billion (7.70 billion pound) in undeclared income, the finance minister said on Saturday.

01 Oct 2016

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Air Berlin reaches agreement with cabin crew union

 

FRANKFURT Air Berlin has reached an agreement on pay and conditions for its cabin crew, helping it as it embarks on a drastic restructuring, it said on Saturday.

01 Oct 2016

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Zara owner Ortega buys $550 million Madrid skyscraper

 

MADRID Amancio Ortega, Europe's richest man and founder of global fashion group and Zara owner Inditex , has bought one of Madrid's most famous skyscrapers for 490 million euros (424.76 million pound) through his property investment arm, a source said.

01 Oct 2016

?m=02&d=20161001&t=2&i=1155706450&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC901MP

Apple loses patent retrial to VirnetX, owes $302.4 million

 

NEW YORK A federal jury in Texas on Friday night ordered Apple Inc to pay more than $302 million (232.68 million pounds) in damages for using VirnetX Holding Corp's patented internet security technology without permission in features including its FaceTime video conferencing application.

01 Oct 2016

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Volkswagen will pay $1.21 billion to settle U.S. dealer claims

 

WASHINGTON Volkswagen AG confirmed late Friday it will make $1.21 billion in payments to 652 U.S. brand dealers as part of its $16.5 billion (£12.7 billion) diesel emissions settlement to date.

01 Oct 2016

China official services PMI rises to 53.7 for September

 

BEIJING Activity in China's services industry expanded in September at a slightly faster pace than the previous month, an official survey showed on Saturday.

01 Oct 2016

China manufacturing activity expands slightly in September - official PMI

 

BEIJING Activity in China's manufacturing sector expanded slightly in September, an official survey showed on Saturday.

01 Oct 2016

Glencore's former No. 2 aluminium trader buys bankrupt U.S. smelter

 

Swiss-based ARG International AG, the trading house set up by Glencore Plc's former No. 2 aluminium trader Matt Lucke, is buying a bankrupt smelter in the United States, its first acquisition since its founding nearly three years ago.

01 Oct 2016

U.S. data to put December rate hike in focus

 

DUBLIN The limits of central bank largesse are set to be a hot topic in the coming week as global policymakers head to Washington for the annual International Monetary Find meetings and key data may harden the case for a tightening of U.S. monetary policy.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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PM May orders employment law review as labour market changes

 

LONDON British Prime Minister Theresa May ordered a review of employment practices on Saturday, saying she wanted to ensure workers' rights were protected under changing business models and a growing trend towards flexible or self-employment.

01 Oct 2016

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Hammond says Brexit deal should not harm economy - Telegraph

 

LONDON British controls on immigration following the country's referendum decision to leave the European Union must not be damaging for the economy, finance minister Philip Hammond was quoted as saying in the Daily Telegraph story on Friday.

01 Oct 2016

?m=02&d=20160930&t=2&i=1155645170&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T18L

Stocks jump, euro edges up as Deutsche Bank rebounds

 

NEW YORK Stock prices across major markets rose on Friday, while the euro stabilized as Deutsche Bank's shares recovered from record lows on a report it is close to a deal to reduce a massive U.S. settlement over charges related to selling toxic mortgage bonds.

01 Oct 2016

?m=02&d=20160930&t=2&i=1155644308&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T18G

Deutsche lifted by CEO letter, settlement report

 

FRANKFURT/LONDON A report that Deutsche Bank was close to a cut-price settlement with U.S. authorities over the sale of toxic mortgage bonds helped to fuel a recovery in its shares on Friday after its chief executive said the group remained stable.

30 Sep 2016

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Oil up second straight month on OPEC-fuelled rally

 

NEW YORK Oil prices settled mixed on Friday while posting their second straight monthly gain on OPEC's planned output cuts, even as scepticism about the cartel's pledge grew after data suggested another record high in its production.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155670269&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1FU

Indonesia's Garuda's U.S. return to generate 5 percent of 2017 revenue - CEO

 

MONTREAL Garuda Indonesia's , the country's national carrier, expects its return to the United States next year with three flights a week to generate about 5 percent of the airline's top-line passenger revenue for 2017, its chief executive said.

30 Sep 2016

Canada's Fiera buys Charlemagne Capital, eyes more deals

 

NEW YORK Canadian asset manager Fiera Capital announced it has bought London-based Charlemagne Capital for 40.7 million pounds ($52.8 million) and said it is in talks with several other targets.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155669114&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1FF

IMF sets new SDR currency amounts to reflect Chinese yuan entry

 

WASHINGTON The International Monetary Fund said on Friday it set new relative amounts of the currencies in its Special Drawing Rights currency basket, reflecting the entry of China's yuan for the first time on Saturday.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155662298&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1E1

GlaxoSmithKline to pay $20 million to settle U.S. foreign bribery case

 

WASHINGTON GlaxoSmithKline Plc will pay $20 million to settle civil charges that it masked bribes to foreign officials in China by disguising them as legitimate travel, entertainment and marketing expenses, U.S. regulators said on Friday.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155656394&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1C9

OPEC oil output hits record on Iraq, Libya boost - Reuters survey

 

LONDON OPEC's oil output is likely to reach its highest in recent history in September, a Reuters survey found on Friday, as Iraq boosted northern exports and Libya reopened some of its main oil terminals.

FTSE ends strong quarter on weak note as Capita, financials falter

 

LONDON Britain's top share index dropped on Friday, taking the shine off a strong quarter, as miners fell and financials stocks eased on uncertainty over Deutsche Bank's financial health and as a spate of broker downgrades hit outsourcer Capita.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155651783&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1AM

Lone Star and others bid for Monte dei Paschi's bad loan platform - sources

 

MILAN Lone Star, Christofferson Robb & Co (CRC) and other specialised investors have presented non-binding offers to buy a platform that will manage part of Monte dei Paschi di Siena's bad loans, three sources close to the matter said.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155650962&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T18T

Deutsche Bank nears $5.4 billion settlement over mortgage bonds - AFP

 

Deutsche Bank AG is nearing an agreement with U.S. officials to pay $5.4 billion (£4.17 billion) to settle charges related to its sale of toxic mortgage bonds before the financial crisis, French news agency AFP reported on Friday, citing sources.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155650940&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1AE

Morgan Stanley estimates Deutsche settlement over U.S. fine at $6 billion

 

LONDON Deutsche Bank could pay about $6 billion (£4.63 billion) to settle charges related to its sale of toxic mortgage bonds before the financial crisis, analysts at Morgan Stanley estimated in a note to clients.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155650961&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T1AB

German hard line on Italy may rebound with Deutsche in crisis

 

FRANKFURT Germany's insistence that Italy accept tough conditions in tackling its problem lenders may rebound now that Berlin faces a banking crisis of its own.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155648427&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T0I6

UK service firms defy Brexit, put BoE on spot over rates

 

LONDON Britain's giant services sector grew strongly in July, according to official data giving the clearest sign to date that the economy did not slump immediately into a major slowdown after the country's vote in June to leave the EU.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155599284&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T0MB

Bundesbank sees no need for global stimulus as recovery on track

 

FRANKFURT Germany's central bank sees no need for a new global stimulus package as it expects the world's economy to continue to recover, Bundesbank board member Andreas Dombret said on Friday.

30 Sep 2016

?m=02&d=20160930&t=2&i=1155589750&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC8T0HI

Sterling in worst run of quarterly losses since 1984

 

LONDON Sterling edged up on Friday but was on track for a fifth consecutive quarter of losses against the dollar - the currency's worst run since 1984.

30 Sep 2016

German FinMin declines comment on report Deutsche near U.S. settlement

 

BERLIN Germany's Finance Ministry declined to comment on Friday on a report that Deutsche Bank was close to a $5.4 billion (£4.17 billion) settlement with U.S. authorities over alleged misselling of mortgage-backed securities.

30 Sep 2016

Deutsche Bank shares jump 6 percent on report of deal to slash U.S. fine

 

LONDON Shares in Deutsche Bank surged about 6 percent just before the market closed on Friday, lifting European stocks and the euro currency as well, after a media report said an agreement with U.S. authorities to slash huge fines over alleged misselling of mortgage-backed securities was being discussed.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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